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Author Topic: China's Proposal To Ban Cryptocurrency Mining Has Little To Do With Environment  (Read 159 times)
BossMacko
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May 02, 2019, 11:35:57 PM
 #21

Been hearing this controversy for such a long time and it's still not sure and clear that China will completely ban mining because they are still having operations at some point.
China has the biggest number of crypto users so they will always do something to pursue mining even if it's against the government.

They have the numbers, they are techie i know theyll be able to get a work around once the ban happens. If theyll not be able to have a plan b or plan c it will impact the crypto world.  Result will be Lesser miners = ?
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May 03, 2019, 09:27:56 AM
 #22

Do we have other prime candidates with potential to explain a motive behind this?
Yeah, China has a long history of not liking their citizens to have the freedom to make their own money and become prosperous.  That's the only reason I can think of as to why they'd be banning miners--it sure as hell isn't for environmental concerns.  I don't doubt that China has some consideration for the environment, but I don't think this recent action has anything to do with it. 

Is Iran one of the only options for the displaced Chinese miners?  Are there any other places where they could go and still get relatively cheap electricity and a better regulatory environment?  Iran doesn't strike me as a great alternative, but the miners would know better than I would.

I swear I thought some of those Chinese miners were operating with clean electricity, e.g., hydroelectric and so forth.  There have got to be ways around these so-called environmental concerns that don't include banning mining altogether.  I think it's a corrupt political move, though.  I don't think the Chinese government is looking for solutions to what they're calling a problem.

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May 03, 2019, 04:30:44 PM
 #23

I believe that this proposal has really nothing to do with the issue of environmental policy or protection that bitcoin mining has been causing them or is there such environmental issue. The main problem here is that chinese government is hunting down there citizen who has been related to crypto and might hold a significant amount of money that they do not know of, which in result to this proposal banning of bitcoin and other cryptocurrencies.
I think they just want to have the full control of the citizens, because it is not that they are against cryptocurrency completely, they have been supporting for other countries that have shown interest and I wonder why their own citizens will be banned from participating.

They are not as just wise as Russia, since crypto is something they cannot control, what Russia is planning to do is to impose tax on companies using cryptocurrency which will make them not to lose out, china may ban crypto and its activities, but will they monitor every home to know if they are breaking the rules?
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May 03, 2019, 04:43:13 PM
 #24

I do agree that it has little to do with environment but lets not put that part aside neither, they did this because of economical reasons and the biggest banks general manager has always been against crypto publicly which considering as a communist country he must be in power for some reason and that must mean his opinions was always the governments opinions as well however they are one of the leading pollution makers in the whole world and they do not care about the environment at all which means their country is destined to be one of the first places that get affected by global changes.

Now, I know they don't care about human life as much as most other countries with work related injuries but ruining your whole countries air is a problem they need to face and bitcoin mining isn't helping neither, maybe a place cold like Iceland would be much better for this kind of work.
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May 03, 2019, 06:10:24 PM
 #25

China just want to have full control of everything that goes on within they jurisdiction and at that this recent attack on miners in China is not far from the fact that cryptocurrencies as a decentralized network will purses a threat to the centralized financial system and they are against that freedom.

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May 03, 2019, 06:40:36 PM
 #26

I think that there are other factors that we don't know and we will possibly never know behind this discussion of banning cryptocurrency in China mining.
The harm that crypto mining does to the environment are little to zero compared with the pollution tha factories, cars or other entities do.
It is just a false proposal that is targeted to harm cryptocurrencies.

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